Question 25

Help Save & Exit S 3 SP21 Saved What will happen to the equilibrium quantity and equilibrium price of potatoes if the income of potato consumers increases (assume that potatoes are an inferior good) and a new higher-yielding variety of potato plant is developed? O Equilibrium quantity and equilibrium price will decrease. O Equilibrium price may increase or decrease and equilibrium quantity will increase. O Equilibrium quantity may increase or decrease and equilibrium price will decrease. O Equilibrium quantity and equilibrium price will increase